Sandyford office investment at €625k offers attractive 7% net initial yield

The prospect of a strong yield in a strong location should see a good level of interest from investors in a modern office investment, which has come to the market at a guide price of €625,000 in south Dublin.

Suite 101, on the first floor of Q House on Furze Road in Sandyford, extends to 158sq m (1,701sq ft) together with two basement car parking spaces.

The unit is let to Aspire Technology on a five-year effective full repairing and insuring lease agreement from June 2016 at a current passing rent of €47,400 per annum. Aspire Technology has an established presence within Q House and occupy three additional suites, while the tenant opted against exercising a recent break option.

Q House, completed in 2008, is an award-winning development of own-door office suites in Sandyford, a location widely acknowledged as south Dublin’s foremost business location.

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Amenities in the area include Dunnes Stores, the Beacon South Quarter shopping centre, Insomnia, O’Brien’s, the Beacon Hotel and Clayton Hotel. Both the M50 motorway and N11 are easily accessible by car, while the Luas green line stop at Stillorgan is a few minutes’ walk from Q House.

The suite’s €625,000 guide price reflects an attractive net initial yield of 7 per cent. Bryan Garry of QRE expects to see significant interest in the property due to the attractive yield, strong covenant and well-established office location.